MONTREAL, Feb. 28 /PRNewswire-FirstCall/ -- Dectron Internationale, Inc. (TSX: DTL / NASDAQ: DECT), a leader in the heating, ventilation and air conditioning, indoor air security and water generation markets, announced today that it will voluntarily delist its Common Stock from the NASDAQ Stock Exchange ("NASDAQ") with trading in the stock to be terminated as of the close of trading on March 14, 2007. The Company's decision to delist from NASDAQ is based on the increasingly high cost of maintaining dual listings on NASDAQ and the Toronto Stock Exchange stock markets as well as the high costs related to NASDAQ and SEC regulatory compliance.
Dectron will maintain its listing on the Toronto Stock Exchange and will continue to provide investors with timely information regarding significant business and financial developments. The company also announced that effective immediately all future disclosure will be under Canadian GAAP and in shown in Canadian dollars.
Dectron Internationale's Chairman of the Board, Mr. Ness Lakdawala said: "while a NASDAQ listing made a lot of sense in 1998 when we took the company public, we now recognize that circumstances have changed in the past few years, and today the ongoing costs of SEC corporate compliance as well as maintaining two listings in two countries far outweigh any benefits." Mr. Lakdawala added, "It is important to emphasize that we are still a public company through our listing on the Toronto Stock Exchange (TSX - DTL) and existing stockholders will still be able to buy or sell our shares through that exchange. Our decision does not reflect any change in Dectron's commitment to its operations and development in the US."
This release contains forward-looking statements, as described in the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks and uncertainties and actual results could differ materially from those projected. These forward-looking statements regarding future events and the future results of Dectron Internationale Inc. are based on current expectations, estimates, forecasts, and projections about the markets in which we operate and the beliefs and assumptions of our management. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," variations of such words, and similar expressions are intended to identify such forward-looking statements. In addition, any statements that refer to projections of our future financial performance, our anticipated growth and trends, and other characterizations of future events or circumstances, are forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Readers are referred to the cautionary statements and important factors discussed in Item 1A. Risk Factors of our Annual Report on Form 10-K for the year ended January 31, 2006 for further information. We undertake no obligation to revise or update publicly any forward-looking statements for any reason, except as required by law.
Dectron Internationale, Inc. is a global provider of custom and semi-custom IAQ (indoor air quality) and HVAC-R (heating, ventilation and air conditioning and refrigeration) products and services to the building systems, food processing, medical, petrochemical, and various industrial and commercial markets. Established in Montreal, the Company has 400 employees in its manufacturing facilities. Its shares are listed on the NASDAQ (DECT) and the TSX (DTL).
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